Business - Abia ThinkTank News

Jan

17

2024

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By Abia ThinkTank

DisCos Warned Against Extorting Communities For Transformer, Other Electrical Repairs

Business, FGN, News Flash, Power & Energy

Minister Warns DisCos Against Extorting Communities For Transformer, Other Electrical Repairs The Tinubu administration has finally warned electricity Distribution Companies of Nigeria (DisCos) against their disturbing penchant of asking residents of communities to contribute funds to buy electricity transformers and other materials on their own. Minister of Power, Adebayo Adelabu, gave the warning against the misnomer at a meeting with the management of Ibadan Electricity Distribution Company (IBDEC) during a facility tour in Oyo State. The minister said the Buhari administration is always committed to providing every need of the people to improve their living standard. He also expressed disappointment…

Jan

17

2024

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By Abia ThinkTank

After Refinery Takeoff, Dangote Investors Gain N1.2 Trillion

Business, News Flash, Oil & Gas

Dangote Investors Gain N1.2 Trillion After Refinery Takeoff Spread the loveEquity investors in the stocks of companies under the Dangote Group have gained over 1.2tn during the first two trading sessions of this week. This marked increased appetite in the stocks of the companies listed on the Nigerian Exchange Limited, following the commencement of the production by the Dangote Petrochemical Refinery. Dangote Petroleum Refinery said it had commenced production of diesel and aviation fuel on Friday. The listed companies; Dangote Cement Plc, Dangote Sugar Refinery Plc and NASCON Allied Industries Plc; the latter companies are in the middle of a…

Jan

16

2024

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By Abia ThinkTank

Private Operators To Handle Port Harcourt Refinery

Business, Economy, News Flash, Oil & Gas

NNPCL To Hand Over Port Harcourt Refinery To Private Operators As the Port Harcourt oil Refinery comes to life, the Nigerian National Petroleum Company Limited has concluded plans to hand over the government refinery to private operators. The NNPCL said it is seeking to engage reputable and credible operations and maintenance companies to operate and maintain the Port Harcourt Refining Company. This, it said, was “to ensure reliability and sustainability towards meeting the nation’s fuel supply and energy security obligations.” In a publication on its website on Monday, the NNPCL said the contract scope shall cover refinery business processes like…

Jan

15

2024

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By Abia ThinkTank

Otti Woo Industrialists Back To Aba City

Abia State, Business, Good Governance, News Flash

Otti woo industrialists back to Aba…says his administration has started the process of rebuilding the commercial city Governor Alex Otti of Abia State has appealed to corporate organizations and other individuals who left Aba, the commercial hub of Abia State, due to poor infrastructure to return, as his administration has started the process of rebuilding the commercial city. Otti made the assertion Saturday in Aba, at a “Victory Rally”, organised by party faithful and other residents of the commercial city, to celebrate his affirmation, by the Supreme Court, as the authentic winner of the 2023 Governorship Election in the State.…

Jan

07

2024

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By Abia ThinkTank

The Race To Wealth – By Nnate Ernest

Columns/Opinions/Letters, Business, Economy

THE RACE TO WEALTH By Nnate Ernest It's fascinating how every person on Earth has a unique path and story of their life. Though there may be similarities in experiences, every individual has a distinct journey. Have you ever wondered why a group of people may embark on a journey together, but some may reach the top effortlessly while some struggle for a long time, while others never make it? The reason could be due to a combination of factors such as privileges, hard work, resilience, competitive spirit, and courage. However, I believe that there is also an element of…

Jan

05

2024

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By Abia ThinkTank

5 Tech Skills To Gain Financial Security In 2024 – By Nnate Ernest

Business, Information Technology, Manufacturing

5 TECH SKILLS TO GAIN FINANCIAL SECURITY IN 2024 Millions of people have improved their lives and delivered substantial contributions to our beautiful planet through technology. Technology is definitely one of the fastest growing careers out there. Career in technology has several benefits and a high salary is one of them. . There are many in-demand tech jobs to choose from, but I have decided to pick 5 which I feel require a short time to get started and have the potential of paying well. You can get started with just a smartphone, good internet connection and dedication. DIGITAL MARKETING…

Dec

09

2023

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By Abia ThinkTank

8th Anniversary: Innoson Gifts Ooni Of Ife Cars, Motorcycles

Business, News Flash, Philanthropy

8th Anniversary: Innoson Gifts Ooni Of Ife Cars, Motorcycles Innoson Vehicles commemorated the eighth anniversary of the Ooni of Ife, Adeyeye Ogunwusi, this week by donating two new vehicles and three motorcycles. The chairman, Dr. Innocent Chukwuma, represented the indigenous automaker at the occasion. The gifts for the Ooni included an IVM Smart car, an Innoson Shuttle van, and several branded motorcycles. One new vehicle will be awarded to an outstanding staff member at the upcoming Staff Appreciation Night. The Head of Corporate Communications for Innoson Vehicles, Cornel Osigwe, noted on Thursday that “as a prominent sponsor of the Staff…

Dec

08

2023

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By Abia ThinkTank

Why P&G Stopped Production In Nigeria, Resorts To Import-Only Model

Business, Economy, News Flash

Why P&G Stopped Production In Nigeria, Resorts To Import-Only Model An American multinational consumer goods firm, Procter & Gamble, popularly known as P&G, has announced that it is winding down its on-ground presence in Nigeria. The Chief Financial Officer, Andre Schulten, made this known during his presentation at the Morgan Stanley global consumer & retail conference in New York on Tuesday. P&G is the manufacturer of common Nigerian household items such as Pampers, Always, Oral B, Ariel, Ambi-pur, SafeGuard, Olay and Gillette. According to Schulten, P&G will transition into importing its products to Nigeria rather than producing them in the…

Dec

06

2023

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By Abia ThinkTank

Nigeria Customs Services Seize Nine Trailer Loads Of Rice, Others In Ogun State

Business, News Flash, Security

Customs Seize Nine Trailer Loads Of Rice, Others In Ogun State The Nigeria Customs Service (NCS) has announced the interception of nine trailer loads of foreign parboiled rice and 13 foreign used vehicles smuggled into the country from the neighbouring Benin Republic. Speaking to newsmen in Lagos on Tuesday, the Customs Area Controllers, Federal Operations Unit, Zone A, Acting Comptroller Hussein Ejibunu, said 18,100 litres of Premium Motor Spirit (PMS) and 376 bales of used clothes were also seized in November 2023. Other contraband seized are 1,926 cartons of frozen poultry products, 337 pieces of used compressors, and 3 40-foot…

Dec

05

2023

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By Abia ThinkTank

Nasir El-Rufai Floats $100m Firm To Nurture Startups

Abuja, Business, News Flash

Rufai floats $100m firm to nurture startups The immediate past governor of Kaduna State, Nasir El-Rufai, on Monday, announced that his venture capital/private equity firm, Afri-Venture Capital Company Limited, will begin operations in 2024. According to a post on his X handle, El-Rufai said through the firm, he hopes to finance, nurture, and mentor Nigerian innovators and entrepreneurs to become the next Dangote Group shortly. He further stated that the plan was to launch a $100 million venture capital fund for startups in Nigeria, particularly those in the Kaduna tech ecosystem, adding that he would be working with private sector…